I've probably written "tech-heavy Nasdaq" more than a thousand times over the years... After all, the Nasdaq Composite Index is known for its high-flying, tech-focused components.
The 'Best of the Nasdaq' Includes... a Hotel Chain
By Vic Lederman, editorial director, Chaikin Analytics
I've probably written "tech-heavy Nasdaq" more than a thousand times over the years...
After all, the Nasdaq Composite Index is known for its high-flying, tech-focused components. Think about companies like Apple (AAPL), Alphabet (GOOGL), and Meta Platforms (META).
But that doesn't mean the Nasdaq – or even the smaller Nasdaq 100 Index – is only made up of tech companies. In fact, they're probably less tech-focused than you realize.
To see what I mean, let's focus on the Invesco QQQ Trust (QQQ)...
QQQ is the top exchange-traded fund ("ETF") that tracks the Nasdaq 100. Today, roughly 57% of this ETF is in the tech sector.
But when we look at that stat another way, it means 43% of QQQ is not in the tech sector.
Nearly 19% of this ETF is in the consumer discretionary sector. Another 7% falls into the health care space. And about 5% is in industrials.
QQQ even includes utilities. They make up a little more than 1% of the ETF.
Despite that, I still think "tech heavy" when the Nasdaq comes up. It's human nature.
Fortunately, the Power Gauge sees it another way. And related to that, as I'll show you today, it just pinpointed a non-tech company as one of the "Best of the Nasdaq"...
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Investors are getting very rich in A.I. stocks right now. And according to 50-year Wall Street legend Marc Chaikin, there are FIVE A.I. companies Wall Street is buying hand-over-fist that need to be on your radar immediately. Click here for names and tickers.
Folks, this is why I love the Power Gauge.
As humans, we bring our own perspective to everything we look at.
But the Power Gauge doesn't do that. It doesn't inject thoughts or biases into its analysis. It only looks at the numbers.
That makes the lists it generates particularly interesting. If you're one of our higher-level Power Gauge users, you've likely noticed them on the dashboard. Take a look...
Each of these "Chaikin Ideas" lists includes tickers that the Power Gauge assesses. And unlike "best of" lists that you or I might create, these lists are based solely on the data.
That's why the system was able to pick a truly unexpected company as one of its "Best of the Nasdaq" stocks. It jumped out at me this morning while I was checking the system...
I'm talking about hotel operator Marriott (MAR). Take a look...
As you can see, Marriott has thrived over the past six months...
The stock is up roughly 17% since late February. For perspective, the S&P 500 Index has only gained around 10% in that span.
Sure, Marriott is one of the unexpected companies on the Nasdaq. But it's outperforming the broad market.
And the Power Gauge has closely watched the company's ascent in 2023. You can see what I mean with the system's "bullish" or better ratings for most of the past six months.
Now, the Power Gauge sees Marriott as one of the "Best of the Nasdaq" companies.
It came to that conclusion after evaluating 20 individual investment factors in four categories – Financials, Earnings, Technicals, and Experts. Then, it put everything together and assigned Marriott a "very bullish" overall rating.
I love how the Power Gauge spotted this company. And it's even more notable when you consider this point...
If I wanted to make a "Best of the Nasdaq" list, I wouldn't even consider Marriott.
But the Power Gauge sees it. And that's true even though Marriott doesn't fit the "tech heavy" mold.
Now, I'd love to show you some of the other names on this "Best of the Nasdaq" list. But that wouldn't be fair to our paying Power Gauge subscribers.
Every day, they get updated ratings – from "very bearish" all the way to "very bullish" on roughly 5,000 stocks and ETFs. The "very bullish" rating on Marriott is just the start.
The Power Gauge brought my attention to a company that few folks are thinking about today. It spotted an unexpected name in an index known for its tech-heavy setup.
It's worth paying attention to this stock today...
After all, it's beating the market in recent months. And it earns a "very bullish" rating.
Good investing,
Vic Lederman
Market View
Major Indexes and Notable Sectors
# Hld: Bullish Neutral Bearish
Dow 30
-0.13%
12
14
4
S&P 500
+0.65%
129
268
102
Nasdaq
+1.61%
43
47
9
Small Caps
-0.16%
479
974
484
Bonds
-1.33%
Information Technology
+1.91%
34
29
2
— According to the Chaikin Power Bar, Small Cap stocks are somewhat more Bearish than Large Cap stocks. Major indexes are mixed.
* * * *
Sector Tracker
Sector movement over the last 5 days
Information Technology
-0.86%
Energy
-1.43%
Utilities
-1.51%
Health Care
-1.77%
Materials
-2.48%
Staples
-2.55%
Industrials
-2.59%
Financial
-2.61%
Communication
-3.08%
Discretionary
-3.35%
Real Estate
-3.52%
* * * *
Industry Focus
Biotech Services
25
68
43
Over the past 6 months, the Biotech subsector (XBI) has underperformed the S&P 500 by -15.70%. Its Power Bar ratio, which measures future potential, is Weak, with more Bearish than Bullish stocks. It is currently ranked #15 of 21 subsectors and has moved up 1 slot over the past week.
Indicative Stocks
MCRB
Seres Therapeutics,
MDGL
Madrigal Pharmaceuti
BTAI
BioXcel Therapeutics
* * * *
Top Movers
Gainers
PANW
+14.84%
MRNA
+9.31%
NVDA
+8.47%
TSLA
+7.33%
AVGO
+4.76%
Losers
PODD
-4.19%
FTRE
-3.72%
EL
-3.70%
NWL
-3.13%
JNJ
-2.98%
* * * *
Earnings Report
Reporting Today
Rating
Before Open
After Close
BBY, LOW, MDT
No earnings reporting today.
Earnings Surprises
ZM Zoom Video Communications, Inc.
Q2
$1.34
Beat by $0.28
FN Fabrinet
Q4
$1.86
Beat by $0.06
NDSN Nordson Corporation
Q3
$2.35
Beat by $0.03
* * * *
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